Didim Real Estate Advisors Association President Umut Öz has issued a warning to property owners in Turkey concerning a recently implemented regulation aimed at preventing deceptive and fake property listings.

The regulation came into effect on November 1st, marking a significant step in enhancing transparency in the real estate market.

The regulation will require individuals who want to list their properties for sale or rent on online platforms to verify their identity and prove their ownership or authorization to sell.

This verification process will be conducted through the e-government portal or the web-based land registry system. Those who post listings for properties they do not own or are not authorized to sell will face fines ranging from 10,000 to 100,000 Turkish Liras.

President Umut Öz praised the new regulation, stating that it will help tackle fraud and manipulation within the real estate industry. He emphasized that individuals and entities advertising properties will now be responsible for ensuring the accuracy and legitimacy of their listings on online platforms.

In addition, the Electronic Identity Verification System (EIDS) will play a key role in verifying the identity and authorization of those providing electronic platforms for property listings. This system aims to reduce misinformation and prevent fake property listings, offering increased protection to property buyers and renters.

Real estate agents have welcomed these measures, seeing them as a significant step towards ensuring transparency and authenticity in property transactions. The new regulations are expected to contribute to a more stable and secure real estate market in Turkey.